I have recently bought the V3. Here is my take on it. It is so damn good compared to the Thrustmaster T3PA pedal. The feel I get from both brake and pedal is very similar to my real car Lexus IS350 with tuned suspension. The better look on the V3 worth so much. Just looking at it will bring you smile, I mean seriously! It looks better than my real car pedals even. The black and red powder coat looks sick. The clutch has a degressive feel (hard>soft + smooth > stop).
I can adjust the sensitivity of the brake from super soft with 5X gain (18 kg of force) to super stiff (90 kg of force). I don't think anyone will like that super stiff setting. Even standing on it might not give you 100% brake if you use the stiffest settings.
The brake has that hydraulic feel to it. You can also adjust the brake pedal distance. It has a preload of 1 to 5. I find 1 to be most realistic.
Another feature which is unique to V3 is the "vibration". Let me tell you, I like it so much. You can adjust when to vibrate. I set it to be around 80% because in Assetto Corsa, that is right at the threshold braking limit for most cars before the ABS kicks in. Setting around 80% will kind of simulate when ABS is kicking in but not exactly because it doesn't take telemetry data. It simply vibrates at the brake % you set it. I use this feature exclusively to train my left foot to develop braking sensitivity.
Anyways, without further ado, I personally improve 10 seconds on Nurburgring in most of the super cars in Assetto Corsa and I can consistently drive them with ease.
One cons with the V3 is that you can not adjust the pedal horizontally while on the Elite LC, you can adjust it anyways you want. For left foot braking like myself, I would like to have a bigger gap between the brake and the gas pedals. However, by adjusting the pedal face a little bit, I'm pretty fine with the V3.
To sum it up: The vibration feature, the look, the higher build quality, the powder coating of black and red etc will be well worth the extra money. I don't own the Elite LC so I don't know how good the feel is. The V3 feels like my real car and I love it.